We are happy to announce that MILK (milk) flexible supply stablecoin will be launched on Binance Smart Chain Mainnet Iodone
What is MILK (milk)?
Milk is a non-dilutable flexible supply stablecoin with a target price of $1. The reason for elasticity is that the supply can expand or contract according to the current price of MILK, rather than dilutively, because when you hold MILK, regardless of supply growth or contraction, your ownership percentage of the supply remains the same .
In order to set the stable price at 1 U.S. dollar, the supply of MILK will be “adjusted” (extension or contract) based on its current price at 12 o’clock in the morning UTC. There are 3 possible rebasing schemes:
1 IODN> $1.05, increase in supply
1 IODN <$0.95, decrease in supply
$ 0.95≤1 IODN≤$1.05, no change
By continuing to adjust the supply, after a sufficient period of time, the price will eventually stabilize at about $1.
Example: A purchases 1,000 MILKs at a price of US$1.15 per MILK, for a total price of US$1,150. After 10 days, the price is now $1.00, and the supply has increased by 25% due to the daily rebasing. A’s 1000 MILK has become 1250 MILK, the current price is $1.00, and the total price is $1250.
Milk token
MILK is a stable currency that supports the milne protocol. The distribution is as follows:
The total supply of milk is 50 million
0–5% (depending on the number of participants) will be airdropped to early liquidity supporters
85–90% will be allocated to the community through a series of mobile agricultural programs
10% of the funds will be reserved for the initial working capital exchanged between the development team and the bakery
Working capital planting
In order for milk to achieve and maintain stability, it needs sufficient fluidity. In order to guide this liquidity, we will create a MILK-BNB pair on bakeryswap and start a staking pool where liquidity providers can stake their MILK-BNB LP tokens to earn MILK.
The initial plan will start on May 21, 2021 and will last for 60 days. A total of 5M MILK will be distributed.
Rebasing for the first time
Since MILK needs liquidity to function, the full release and first revision of the agreement is scheduled for 2021/05/27 @ UTC 12:00 AM UTC, which is 6 days after the start of the liquidity farming program. This will allow a certain amount of liquidity to be established in the MILK-BNB library, which will improve the accuracy of the benchmark pricing Oracle used to determine the size and direction of the benchmark.
